HFB is a full service retail bank that is primarily involved in mortgage banking. Founded in 1967 as a housing finance company, Housing Finance Bank became a fully licensed commercial bank in January 2008, having acquired a commercial banking license from Bank of Uganda. The bank is the leading mortgage lender in the country, with approximately 60% of all Ugandan mortgage accounts. As of December 2011, Housing Finance Bank was the 9th largest commercial bank in Uganda with an asset base estimated at over US$190.7 million (UGX:464.1 billion), and shareholders' equity of approximately US$40 million (UGX:99 billion). representing about 4% of all bank assets in the country at that time.
Housing Finance Bank maintains its corporate headquarters and main branch at its newly constructed headquarters building on Wampewo Avenue, on Kololo Hill. The bank's former main branch is located on Kampala Road. Another branch within the KampalaCentral Business District is located in Nakasero, across Nakasero Road from the Nigerian High Commission. There are two other branches in Kampala, one each in the suburbs of Namuwongo and Ntinda. In February 2009, the bank opened a branch in Mbarara in western Uganda. In March 2009, the bank opened its 6th branch is an area of Kampala known as Kikuubo. In June 2009, the bank opened its 7th branch in Mbale promising, at the opening ceremony, to launch Internet banking and rural mobile banking later in 2009.  In July 2009, Housing Finance Bank its 8th branch in Arua. As of August 2012[update], the bank maintains branches at the following locations: